“Every day our people look for practical ways to help our local businesses and nonprofits succeed.” —Bill Schrader
The publishers of NorthBay biz may want to consider renaming this category if Exchange Bank keeps winning the annual readers poll. Sonoma County’s largest local bank has once again been voted Best Business Bank. In fact, Exchange Bank is NorthBaybiz’s all-time top winner, with more than 15 awards in multiple categories over the years. It’s also received the Business Environmental Alliance Best Practices Award and been voted the “Best Company to do Business With” and the “Best Place to Work” on numerous occasions.
“We’re proud to again be recognized as our community’s best business bank,” says President/CEO Bill Schrader. “It’s an award that must be credited to the commitment and talent of our experienced lenders. Every day, our people look for practical ways to help our local businesses and nonprofits succeed, to expand their opportunities, manage their financial resources and support an investment in tomorrow.
“I believe we’ve been successful in this important work with local businesses because they know we understand their challenges and aspirations—not only because we live in this community, but because we’re a small business, too, just like them…and we compete against the giants every day.”
Schrader believes trust and reliability define the difference for the bank’s customers. “When businesses bank with us, they know they can depend upon us to be there when they need us. Our future is deeply intertwined with theirs. As they grow, we grow.”
Founded by Manville Doyle and his son, Frank, in 1890, the bank survived two world wars, the Great Depression, the San Francisco earthquake and numerous economic ups and downs. When Frank Doyle died in 1948, he gifted his 51 percent interest in the bank to a perpetual charitable trust, ensuring the bank could never be bought or sold.
In recent years, the bank has committed more than $75 million in new consumer and small business loans to help the community get back to work in the wake of recession. “Our Small Business Banking Department holds a ‘Preferred Lender’ designation, which enables us to underwrite 7a and 504 loans on an expedited basis for our customers,” says Sally Traughber, AVP, marketing services manager. “It’s another option we can provide.”
Technology—not long teller lines—is where Exchange Bank is headed. “We continue to make important investments in technology that can accommodate each customer’s unique financial needs and empowers them to transact their banking business with us virtually any time and in any way they wish without sacrificing the one‑on‑one personal service that’s been the defining part of our culture since our inception in 1890,” Traughber says.
Case in point: In the fourth quarter of 2012, the institution introduced mobile banking to its customer base. Its app is now available in both the Apple and Blackberry app stores.
“Our new app has been well received and is a testament to how mobile devices have impacted the delivery of services in banking as well as other industries,” Traughber says. “The branch system we have will continue to be an important part of this new delivery system.”
